InCred Money to buy Stocko for Rs 300 Cr

InCred Money, the retail wealthtech arm of InCred Group, is set to acquire trading platform Stocko for Rs 300 crore ($35 million). 

As per the ET report, Stocko will be renamed InCred Stocko after the process is completed. However, the deal is not yet approved by regulators. 

Stocko offers trading in stocks, options, commodities, and currencies, with a daily turnover of Rs 1 lakh crore. The company’s team, led by Shrey Jain, will continue after the merger. InCred plans to integrate Stocko with its current services.

The deal marks InCred’s entry into the retail brokerage space.

InCred Money is part of InCred Group, which also runs lending and wealth services. InCred Finance, the lending arm of Bhupinder Singh-led InCred Group achieved unicorn status after raising $60 million in a Series D round from new and existing investors in December 2023. Entrackr was the first to report this development. 

A Mint report suggested that InCred Finance aims to raise Rs 4,000-5,000 crore ($471-588 million) through its IPO, at a valuation ranging between Rs 15,000 crore and Rs 22,500 crore, a price of Rs 225 to 325 a share. The company is reportedly targeting a listing in the last quarter of 2025.

In FY24, InCred group’s revenue from operations grew by 48% to Rs 1,267 crore. It also reported a profit after tax (PAT) of Rs 316 crore in the last fiscal year.